BRUSSELS--Electronics giants Philips Electronics NV, Samsung SDI
Co. Ltd. (006400.SE) and Panasonic Corp. (PC) are among a group of
seven companies fined 1.47 billion euros ($ billion) by European
regulators Wednesday for operating a two-decade-long cartel in TV
and computer monitor tubes.
The European Commission said LG Electronics Inc. (066570.SE),
Philips Electronics NV and Samsung SDI participated in both
cartels, while Panasonic, Toshiba Corp. (6502.TO), MTPD--a
Panasonic subsidiary--and Technicolor--formerly
Thomson--participated only in the cartel for television tubes.
Whistle-blower Chunghwa from Taiwan has received full immunity
from fines as it was the first company to reveal the cartels'
existence. Other companies received reductions of their fines for
cooperating in the probe.
"These cartels for cathode ray tubes are "textbook cartels':
they feature all the worst kinds of anticompetitive behavior that
are strictly forbidden to companies doing business in Europe,"
Joaquin Almunia, European Union antitrust chief, said.
The Commission said the two cartels were among the "most
organized cartels' that it had investigated.
Write to Vanessa Mock at vanessa.mock@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
